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Associate Principal, Model Validation

About Us
OCC, founded in 1973, is the world's largest equity derivatives clearing organization. OCC is dedicated to promoting stability and financial integrity in the marketplaces that it serves by focusing on sound risk management principles. We serve 16 options exchanges, 2 futures exchanges and 1 stock loan alternative trading system.  OCC has over 100 clearing members, including several of the largest U.S. broker-dealers.

What We Offer
A highly collaborative and supportive environment developed to encourage work-life balance and employee wellness. Some of these components include: 
•    A hybrid work environment, up to 3 days per week of remote work
•    Tuition Reimbursement to support your continued education
•    Student Loan Repayment Assistance
•    Technology Stipend allowing you to use the device of your choice to connect to our network while working remotely
•    Generous PTO and Parental leave 
•    Competitive health benefits including medical, dental and vision

What You'll Do:
The Senior Financial Engineer will have major responsibility in the validation and assessment of the performance of quantitative models at OCC. The role will include significant interaction with the Quantitative Risk Management and technology departments.  

•    Review and validate quantitative risk model documentation
•    Verify accuracy and reliability of the software implementation of the model
•    Develop and implement complex independent tests  to validate the model implementation
•    Develop model risk analysis tools, such as back testing tools, to support ongoing model validation
•    Develop and implement repeatable back testing suites for both new and existing models
•    Develop and implement independent models to benchmark OCC production models
•    Assess the models by ensuring that the data used is valid
•    Document testing activities
•    Document validation activities
•    Communicate with Quantitative Risk Management and other departments about issues and concerns
•    Provide expert knowledge on recommendations throughout validation processes
•    Create logical and innovative solutions to complex problems
•    Complete all validation assessments to meet strict business timelines
•    Other duties as assigned


Supervisory Responsibilities: N/A


Qualifications:
The requirements listed are representative of the knowledge, skill, and/or ability required.  Reasonable accommodations may be made to enable individuals with disabilities to perform the primary functions.
•    Excellent verbal and written communication skills
•    Ability to collaborate effectively within the department and across other departments
•    Ability to work independently
•    Complex problem solving skills
•    Strong detail orientation, analytical, and assessment skills
•    Ability to manage time effectively to meet project deadlines
•    Strong multi-tasking skills
Technical Skills: 
•    2 or more years software development experience in C++, Java, C#, solid object-oriented programming skills, MS SQL Server database, or similar
•    Experience in Matlab and R/Splus desirable
Education and/or Experience:
•    5+ years of related experience
•    Advanced degree in mathematical finance, econometrics, mathematics, physics or similar discipline with quantitative focus
•    Quantitative finance at the level of “Measuring Market Risk” by Kevin Dowd, or similar

Step 1
When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.  

Step 2
You will receive an email notification to confirm that we've received your application.

Step 3
If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location. 

For more information about OCC, please click here.

OCC is an Equal Opportunity Employer

Apply About OCC
  • REQ-2148
  • Chicago - 125 S Franklin
  • Full Time Regular
  • Posted: Aug. 11, 2021

How to Apply

Step 1 - When you find a position you're interested in, click the 'Apply' button. Please complete the application and attach your resume.

Step 2 - You will receive an email notification to confirm that we've received your application.

Step 3 - If you are called in for an interview, a representative from OCC will contact you to set up a date, time, and location.

OCC is an Equal Opportunity Employer

Numerous studies have shown that people from groups that are traditionally under-represented in financial services apply to jobs only if they believe they meet 100% of the requirements. We want to break down this mindset to further diversify our workforce.

We encourage you to review our open positions and apply if you think your experience may be a match, even if you do not meet all of the qualifications. Your perspective may be an element we need to continue building innovative solutions to support the markets and market participants we serve.

OCC is a globally recognized entity that clears a multitude of diverse and sophisticated products. We want to reflect this in the diversity of our workforce.

This web site discusses exchange-traded options issued by The Options Clearing Corporation. No statement in this web site is to be construed as an endorsement, recommendation or solicitation to purchase or sell a security, or to provide investment advice. Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of the disclosure document, Characteristics and Risks of Standardized Options. Individuals should not enter into option transactions until they have read and understood this document. To obtain copies, contact your broker, any exchange on which options are traded, or The Options Clearing Corporation, 125 S. Franklin Street, Suite 1200, Chicago, IL 60606 ([email protected]).